Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 17,668 Shares of Stock

CarGurus, Inc. (NASDAQ:CARGGet Free Report) COO Samuel Zales sold 17,668 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.22, for a total transaction of $392,582.96. Following the completion of the sale, the chief operating officer now directly owns 564,609 shares in the company, valued at approximately $12,545,611.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CarGurus Stock Performance

Shares of CARG stock traded up $0.26 during mid-day trading on Monday, hitting $22.94. 1,636,047 shares of the stock traded hands, compared to its average volume of 902,189. CarGurus, Inc. has a twelve month low of $15.34 and a twelve month high of $24.64. The company’s 50-day simple moving average is $23.33 and its 200-day simple moving average is $20.65. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 126.00, a price-to-earnings-growth ratio of 1.38 and a beta of 1.57.

CarGurus (NASDAQ:CARGGet Free Report) last released its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The firm had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. During the same period in the previous year, the company earned $0.25 earnings per share. CarGurus’s revenue was down 22.2% compared to the same quarter last year. Analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Analyst Ratings Changes

CARG has been the topic of several analyst reports. Needham & Company LLC raised their price target on shares of CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. UBS Group lifted their target price on CarGurus from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, January 16th. Finally, Oppenheimer increased their price target on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.80.

Check Out Our Latest Stock Analysis on CARG

Institutional Trading of CarGurus

A number of hedge funds and other institutional investors have recently made changes to their positions in CARG. BlackRock Inc. grew its position in CarGurus by 113.0% in the second quarter. BlackRock Inc. now owns 14,824,129 shares of the company’s stock worth $335,470,000 after buying an additional 7,863,827 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of CarGurus by 30.4% in the 1st quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company’s stock worth $599,905,000 after acquiring an additional 3,294,532 shares during the last quarter. Durable Capital Partners LP acquired a new stake in shares of CarGurus during the fourth quarter worth $45,581,000. Morgan Stanley lifted its holdings in shares of CarGurus by 44.9% during the fourth quarter. Morgan Stanley now owns 6,112,679 shares of the company’s stock valued at $85,639,000 after purchasing an additional 1,893,891 shares during the last quarter. Finally, State Street Corp boosted its position in shares of CarGurus by 59.8% in the 2nd quarter. State Street Corp now owns 3,298,003 shares of the company’s stock valued at $74,634,000 after purchasing an additional 1,234,099 shares during the period. 86.90% of the stock is currently owned by institutional investors.

About CarGurus

(Get Free Report)

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car to dealers and other consumers.

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